Marketing B2B…Online-Style

With the e-commerce holiday season upon us and the record projections for consumer spending, let us not forget that there is an even bigger e-fish out there in the sea, the business-to-business market. The B2B online market is growing by astronomical proportions. B2B e-commerce is projected to grow from almost $112 billion dollars in 1999 to a staggering $815 billion by 2002. By comparison, the consumer market is only projected to grow from $23 billion in 1999 to $152 billion by 2002. (1)

Looking at these figure, you may be asking yourself, “How can I capitalize on this opportunity?” Well, here are three options to start with:

· B2B Marketing: If you’re not already, get yourself familiarized with the aspects of marketing in a B2B environment. Glitz, glamour, bells and whistles are more often replaced by direct information, industry terminology and ease-of-use for the transactor (usually the company purchasing agent) Use of professional language and a less casual tone of voice when presenting materials, responding to emails or participating in forums is expected. Marketing efforts must always keep in mind that you’re looking to build company image and credibility; it’s not the same “touchy-feely” marketing that we’re seeing so often with consumer products where advertisers are trying to generate an emotional response in us.

· Getting Vertical: Vertical Internet sites are narrowly and specifically defined industry channels, and provide excellent opportunities to market to a precise target audience. For instance, if you are a business that targets supply chain companies you might want to promote yourself on logistics or industrial distribution pages. Vertical Net (http://www.verticalnet.com) is an umbrella portal of multiple online trading communities exclusively for building relationships between buyers and sellers. Vendors can also purchase a storefront on Vertical Net in the industrial hub of their choice, leading to plenty of qualified sales inquiries.

· Targeting B2B Search Engines and Directories: Just as you would pursue with standard search engines and directories, getting a B2B site listed in the prominent B2B directories is an excellent way to draw traffic. The beauty of these tools is that there is less clutter because there are not as many sites competing for each search term. Plus, the searcher is more likely to be interested in purchasing a service or product for their business than maybe the consumer searcher. Here are two handy B2B directories:

Comfind - bills itself as “the Internet’s largest global business directory,” and submitting to them is a must for any online business. Additional benefits include localized business searches and free web site tools.

Biz Pro Link - an Internet entity that houses 102 specific B2B industry portals of almost every sector. Each portal is managed by an industry specialist, a “BizProLink PROprietor,” and hosts product information, online communities and directories to industry-related sites.

B2B e-commerce is not just industrial supplies alone. Here is a breakdown of primary products and services offered by B2B Internet sites provided by ActivMedia:

· Computers: 27%

· Retail wholesale and distribution: 21%

· Professional Services: 17%

· Manufacturing: 17%

· Marketing: 6% , Production: 5%, Office Supplies: 4%, Other: 4%

The writing is on the wall: the transference of B2B commerce to the online world presents huge opportunities to the companies and marketers who get there first.

Footnote: (1) Giga Information Group

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